MERRILL LYNCH USA GOVERNMENT RESERVES
NSAR-A, 1998-04-27
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<PAGE>      PAGE  1
000 A000000 02/28/98
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<PAGE>      PAGE  2
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013 A000001 DELOITTE & TOUCHE LLP
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014 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
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015 A000001 THE BANK OF NEW YORK
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015 C020003 NY
015 C030003 10017
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015 C020004 NY
015 C030004 10167
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022 B000001 36-2880742
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022 A000002 NESBITT BURNS SECURITIES INC.
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022 C000002   5162000
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022 A000003 PAINEWEBBER INCORPORATED
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022 C000003   3024885
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022 A000004 NOMURA SECURITIES INTERNATIONAL, INC.
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022 C000004   3005000
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022 A000005 DAIWA SECURITIES AMERICA INC.
022 B000005 13-5680329
022 C000005   2748000
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022 A000006 LEHMAN BROTHERS INC.
022 B000006 13-2518466
022 C000006   2707419
022 D000006      4043
022 A000007 BZW SECURITIES INC.
022 C000007   2632709
022 D000007     32960
022 A000008 HSBC SECURITIES, INC.
022 B000008 13-2650272
022 C000008   2562000
022 D000008         0
022 A000009 GREENWICH CAPITAL MARKETS, INC.
022 C000009   2156000
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022 A000010 NIKKO SECURITIES CO. INTERNATIONAL, INC.(THE)
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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SIGNATURE   GERALD M. RICHARD                            
TITLE       TREASURER           
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000704957
<NAME> MERRILL LYNCH U.S.A. GOVERNMENT RESERVES
       
<S>                             <C>
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<PERIOD-START>                             SEP-01-1997
<PERIOD-END>                               FEB-28-1998
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